Identity to Capitalize on Blockchain: BTCMANAGER’s Week in Review August 22
Compiled from contributions by Amy Castor, Michael Scott, Jamie Holmes and Joseph Young.
A group of hackers known as “Shadow Brokers” appear to have hacked a cyber attack group with ties to the NSA. The Shadow Brokers posted their ambitions on twitter with tweets that have since been deleted. They have put the files they took during the hack up for an auction and plan to release a number of files for free if the bid reaches one-million bitcoin. Edward Snowden revealed that this hack is genuine shortly afterward.
Bitcoin.org released an official warning that state-sponsored hackers may tamper with the binaries for the upcoming Bitcoin Core release, version 0.13.0, which was released today. Bitcoin.org warns people that they do not have the neccesary tools to guarantee that they can defend themselves. One of the main concerns is if hackers with powerful and sophisticated malware target the distributor’s website, it could affect the files of the software. However, Bitcoin Core developer Eric Lombrozo feels as if this has brought a sense of unnecessary paranoia.
After rejecting the $600 psychological level, BTC-USD headed south and posted a fresh low around $555. Since then, however, momentum has started to reverse, favouring bulls in the market. A march towards $600 now looks very likely, with BTC-USD trading above $580 at present, up over 1 percent so far on the day. The market has displayed a bullish breakout at the 4-hour timeframe and a move above $594.42 on the Bitstamp exchange will indicate the formation of a longer-term uptrend.
Jason Weinstein, a former deputy assistant attorney general in the Criminal Division of the U.S. Department of Justice spoke with BTCMANAGER on August 16th about legal issues surrounding Bitcoin and Blockchain technology. Weinstein also talks about the work he’s done at Steptoe & Johnson LLP, and their involvement in representing people from every corner in the Bitcoin communities.
At the Blockchain Conference in New York panelists Meeta Yadav, York Rhodes, Bobby Lee and Joe Lubin talked about the future of cryptocurrencies and the blockchain. Lubin talked about identity apps and how a verifiable digital identity, with a portable reputation system, would empower more people to open bank accounts, apply for loans, land jobs, and participate in the global economy.
ShoCard, a digital identity system that’s privately and securely accessible through a mobile has the to aim protect consumer privacy while making permissioned access as easy as flashing a driver’s license. With this app an individual can manage and access their identity information via a mobile phone. Identity self-management has the potential to become the new normal for how we curate and provide access to our personal information.